Estimated Assessment and Deduction: Court Upholds Tax Authority’s Decision on Business Income and Deductions

• Tax authorities made discretionary increases to the taxpayer’s business income for 2015 and 2016 based on bank deposits.
• Deductions for 2015 were allowed only with documentation; no deductions were allowed for 2016 due to lack of accounting records.
• The taxpayer argued for additional deductions and exclusion of certain deposits from income, submitting new records for 2016 during the trial.
• The court found the taxpayer’s evidence insufficient and upheld the tax authorities’ estimates.
• The Ministry of Taxation was acquitted.

Source: info.skat.dk

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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